Granite Real Estate Investment Trust (TSE:GRT.UN) Receives C$99.64 Average Price Target from Analysts

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) has been given an average recommendation of “Buy” by the eight analysts that are covering the company, MarketBeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have covered the stock in the last year is C$99.64.

GRT.UN has been the subject of a number of analyst reports. TD Securities boosted their price objective on shares of Granite Real Estate Investment Trust from C$94.00 to C$96.00 and gave the company a “buy” rating in a report on Friday, February 27th. Scotia boosted their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “sector outperform” rating in a report on Friday, May 8th. TD boosted their price objective on shares of Granite Real Estate Investment Trust from C$96.00 to C$101.00 and gave the company a “buy” rating in a report on Friday, May 8th. Canaccord Genuity Group boosted their price objective on shares of Granite Real Estate Investment Trust from C$100.00 to C$105.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, National Bank Financial boosted their price objective on shares of Granite Real Estate Investment Trust from C$102.50 to C$110.00 and gave the company an “outperform” rating in a report on Monday, April 20th.

Granite Real Estate Investment Trust Trading Up 3.2%

Shares of GRT.UN stock opened at C$92.43 on Friday. Granite Real Estate Investment Trust has a 12-month low of C$65.92 and a 12-month high of C$95.00. The company has a market capitalization of C$5.61 billion, a P/E ratio of 14.34 and a beta of 1.34. The firm has a 50-day moving average price of C$87.93 and a 200 day moving average price of C$84.45. The company has a quick ratio of 1.61, a current ratio of 0.35 and a debt-to-equity ratio of 57.74.

Granite Real Estate Investment Trust (TSE:GRT.UN) (NASDAQ:GRP.U) last posted its quarterly earnings data on Wednesday, May 6th. The company reported C$1.51 earnings per share for the quarter. Granite Real Estate Investment Trust had a net margin of 42.50% and a return on equity of 4.28%. The firm had revenue of C$165.83 million during the quarter. Research analysts forecast that Granite Real Estate Investment Trust will post 5.580574 earnings per share for the current fiscal year.

Granite Real Estate Investment Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 15th were given a $0.2958 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Tuesday, March 31st. Granite Real Estate Investment Trust’s payout ratio is currently 53.53%.

About Granite Real Estate Investment Trust

Granite is a Canadian-based REIT engaged in the acquisition, development, ownership and management of logistics, warehouse and industrial properties in North America and Europe. Granite owns 147 investment properties representing approximately 62.6 million square feet of leasable area.